no. 8: A large European bank (e.g. HSBC, Deutsche Bank, Commerzbank, UniCredit, BNP Paribas, Santander) becomes insolvent and must be bailed out.
I suppose that it could be argued that Deutsche Bank is already insolvent and reality just hasn’t caught up. Like Wile E. Coyote having run past the precipice but not yet noticed gravity.
That's possible. Nice allegory.
One could also argue that the Euro has already failed. EU bureaucrats just haven't looked down and haven't realized being past the precipice.